BlackRock predicts another historic year for crypto.
should rip higher under President-elect Donald Trump, according to ETF chief.
Samara Cohen, the ETF and index instruments chief investment officer at the firm, believes that cryptocurrency deregulation will definitely drive bitcoin to another historic year.
"Stable coins and taxonomy definitions will see progress, according to the Financial Innovation and Technology for the 21st Century Act," she said on CNBC's "ETF Edge" this week.
The iShares Bitcoin Trust (IBIT) has been led by Cohen since its January 2024 launch and has experienced a 114% increase in value since then, with a 7.9% increase year to date. This week, Bitcoin briefly surpassed $100,000 in value.
Despite the strong performance, she suggests cryptocurrency investors need an iron stomach.
"Cohen stated that Bitcoin is a risky asset, so a 15% change in its value is not a significant move. However, investors should anticipate volatility. In the long run, the price of Bitcoin will be determined by the rate and extent of adoption."
On Monday, BlackRock declared the official unveiling of its iShares Bitcoin ETF on CBOE Canada.
Calamos Investments is set to launch its Bitcoin Structured Alt Protection ETF on Wednesday, two days after Trump's inauguration, marking the world's first 100% downside protected bitcoin ETF.
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- BlackRock predicts another historic year for crypto.